BusinessWeek Promising To Fire 20 Percent Staff In Sale Document; Employees in Dark For Now

BusinessWeek Cover 7

I am not sure why employees thought otherwise, but BusinessWeek is pitching to its prospective buyers that it is planning to fire about 20 percent of staff this year, about 85 eliminations among 421 jobs, according to the pitch book, obtained by NYT. In the book, these layoffs have been decided/recommended since Q1 of this year, and includes the following:
— in editorial, 55 of 217 positions (they have 217 edit people?!).
— sales, 9 of 69.
— marketing, 6 of 26.
— technology, 8 of 33.
— circulation, just one of 19.

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